VAT Registration in UAE:
The registration of VAT is compulsory to any company and individuals that carry out business operations in the UAE. This rule provides companies with the ability to comply with the Federal Tax Authority (FTA) regulations and be transparent in their financial transactions. Businesses are also allowed to apply to VAT tax at the e-services section of the FTA; otherwise, the procedure is complicated without the help of professionals.
At Singiri Auditing it is our specialty to provide smooth VAT registration services in the UAE to enable businesses remain in the right track.
VAT Services
VAT Registration in UAE:
The registration of VAT is compulsory to any company and individuals that carry out business operations in the UAE. This rule provides companies with the ability to comply with the Federal Tax Authority (FTA) regulations and be transparent in their financial transactions. Businesses are also allowed to apply to VAT tax at the e-services section of the FTA; otherwise, the procedure is complicated without the help of professionals.
At Singiri Auditing it is our specialty to provide smooth VAT registration services in the UAE to enable businesses remain in the right track.
Categories of VAT Registration Services in Dubai:
In seeking the services of VAT registration in Dubai, companies must select one of two categories depending on their turnover per year:
1.Mandatory VAT Registration:
⇒Businesses whose turnover or imports are above AED 375 000 in a year are mandated to register VAT. This makes them adherent to the guidelines of FTA and enables firms to collect their customers with VAT.
2.Voluntary VAT Registration:
⇒Voluntary VAT registration may be made by businesses whose annual turnover or imports are above AED 187,500 and under AED 375,000. Small and medium enterprises (SMEs) that wish to build credibility and increase their market share are one of the beneficiaries of this category.
⇒Businesses must ensure they assess their qualification to register under mandatory or voluntary VAT and whether to register as a single business entity or a tax group before registration.
Tax Group VAT Registration:
→Tax registration as a tax group is an effective means of tax management of businesses that have different trade licenses. Key requirements include:
1. Only entities which are located in the UAE and fixed are allowed to operate.
2. The companies should be concerned parties within the meaning of the FTA.
After the approval, the FTA assigns one TRN to the group and this simplifies the process of VAT compliance and reporting.
Foreign corporate VAT Registration:
→The foreign companies that sell goods in the UAE to non-registered consumers should be registered to pay VAT regardless of the turnover. For instance:
1. Non-UAE resident selling products within the UAE.
2.UAE-based international companies that operate on the Amazon platform.
Acquiring a VAT number is a necessity to help these companies to work legally and adhere to the VAT registration services in UAE regulations.
VAT registration of E-Commerce Sellers:
→With the emergence of e-commerce, online businesses have had to have certain regulations with regards to VAT. Companies in the UAE that sell goods on-line should comply with the following:
1.Local Sales: Standard VAT rate of 5.
2. Export Sales: 0% VAT, although on certain conditions.
All transactions conducted by e-commerce sellers should be documented so that they can be in line with the regulations set by FTA. Dubai can ease these requirements through professional VAT registration services to digital businesses.
Estimating the Tax Registration Threshold:
→Federal Decree-Law No. (18) of 2022 contains a system of calculating tax thresholds. Following is taken into consideration:
1. The value of goods and services which are taxable.
2. Worth of goods and services of concern.
3. The purchases made on businesses obtain taxable supplies.
4.Supplies by related parties.
These are the factors that must be accurately assessed when it comes to the question of whether a business would be eligible to be registered as VAT in the city of Dubai.
Sectors Exempt from VAT:
According to the UAE regulations, certain sectors are exempt of VAT, such as:
⇒VAT laws define financial services.
⇒ Home based real estate supplies.
⇒ Bare land transactions.
⇒ Local passenger transport.
Companies in the areas of operation must seek the services of VAT registration consultants in the UAE to know about their respective requirements.
New Companies VAT Registration in UAE:
→In the case of new businesses in UAE,VAT registration would be based on the estimated turnover of the business:
1. Vital Requirement of Registration: AED 375,000 of income or imports.
2. Voluntary Registration Threshold: AED 187, 500 of revenue or imports.
In case a new company fails to satisfy such thresholds, the FTA will deny it the permission and none of the TRN will be granted. Nevertheless, an establishment anticipating high expansion rates is advised to hire a VAT registration consultant in UAE to help them maintain compliance as they head to the limits.
Steps to Register for VAT in UAE:
→The registration process in VAT in UAE is as follows:
1.Creation of an FTA Account: The company will be required to open an account on an e-services portal offered by the FTA.
2.Document Submission: Documents will include trade licenses, financial records, as well as ownership, which are required.
3.VAT Application Completion: Complete the VAT registration form with your business activity.
4.Approval and TRN Issuance: FTA provides a special Tax Registration Number (TRN) to your business.
What Is the Process of VAT Registration in Dubai?
→In case you would like to begin with the registration of VAT in Dubai, but do not know where to begin, Singiri Auditing is at your service. We are a reputable VAT registration firm in the UAE, which attributes extensive advice to both small and big businesses. The registration process of VAT requires one to be conversant with the law and make a correct application via the FTA portal.
→Registration plays a crucial role in evading fines and compliance with VAT services in UAE regulations. At Singiri Auditingwe work with the process in the most efficient way all the documentation is correct and it is given in time. Our quality assurance will ensure that your business is not in compliance with not following the required rules, or being delayed or fined unnecessarily.
Documents Required for VAT Registration in Dubai
- Passport copy or Emirates ID to prove the identity of the authorized party
- Trade license copy of the company
- Certificate of Incorporation of the company
- Certificate of Articles of Association of the company
- Certificate of Power of Attorney of the company
- Description of business activities
- Turnover for the last 12 months in AED
- Supporting document for 12-month sales
- Expected turnover in the next 30 days
- Estimated value of imports for one year from all GCC countries
- Estimated value of exports for one year to all GCC countries
- Your consent whether you deal with GCC suppliers or customers
- Supporting documents for customs registration in the Emirates if applicable.
- Details of Bank Account
Comprehensive VAT Registration Support:
→In the UAE, we provide a full scope of VAT services at Singiri Auditing and they include:
1.Advice on registration of VAT.
2. Help in the registration of VAT in the UAE new companies.
3. Favors the registration of tax groups.
4. Foreign and e-commerce consulting.
Our team makes it easy and an application submitted by our team is accurate, complete, and in accordance with FTA requirements. You can leave your VAT registration in Dubai to Singiri Auditing so that you can conduct business.
Singiri Auditing VAT Consultancy Services
Singiri Auditing has been playing a significant role in dealing with the accounting and taxation services for business entities regardless of its size. The Singiri Auditing experts are chosen because they are perceptive of the procedures of the VAT. They know the right decorum to be followed for the UAE VAT registration. That is why Singiri Auditing is the first choice to be considered by the companies with regard to VAT Registration in the UAE. Singiri Auditing not only provides VAT registration services in Dubai but also provides all kinds of VAT related services to help small, medium, and large-sized businesses grabbing maximum profit.
We recognize the importance and need for VAT Services for every business entity in the UAE, and deliver a wide range of VAT services, which include: –
- VAT registration
- VAT deregistration
- VAT compliance and control
- VAT filing and payment
- Data entry and management
Singiri Auditing provides a wide range of business services that include CFO Services, Auditing Services, Accounting & Bookkeeping Services, Accounting Software services, Due Diligence Services and Tax filing Services.
If you have any queries regarding VAT Registration in UAE or about your current business, feel good to discuss with us. Singiri Auditing is there for your assistance!
Our expert will give you one-hour Free Consultation to keep your reservations away!
FAQ
Here are some common questions about VAT Registration |
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